Observers said that if Japan signs the TPP Agreement, its automobile and machinery exports will be boosted. However, the greatly subsidized agricultural sector will also be affected.

Japan has so far dispatched its experts to eight out of nine countries involved in the negotiations on the TPP Agreement to consult them about the issue.

Vietnam is the only country which has not yet held consultations with Japan.

An inter-agency delegation from the Ministry of Trade, the Ministry of Foreign Affairs and the Ministry of Agriculture and Rural Development will work with Vietnamese partners on February 23.

Japanese Prime Minister Naoto Kan said his country will decide whether or not to join the TPP Agreement in June.

The TPP Agreement is considered an open mechanism for free trade in the region. Nine countries engaging in the negotiations on the agreement are Brunei, Chile, Singapore, New Zealand, the US, Australia, Malaysia, Peru and Vietnam.